this post was submitted on 05 Jun 2024
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Musk accused of selling $7.5 billion of Tesla stock before releasing disappointing sales data that plunged the share price to two-year low (fortune.com)
submitted 5 months ago by TVgog56789@lemy.lol to c/usnews@lemy.lol
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cross-posted from: https://programming.dev/post/15086231

  • Elon Musk accused of illegally selling $7.5 billion in Tesla stock in Q4 2022.
  • Lawsuit alleges Musk and board violated fiduciary duties by selling shares ahead of disappointing vehicle sales data.
  • Shareholder seeks disgorgement of $3 billion in illegal gains and damages from directors for reckless behavior.
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[–] Obi@sopuli.xyz 9 points 5 months ago

Best I can do is $100k fine.